Harry has posted Charts of the Day video on STO at TheTechTrader site noting: Statoil ASA (STO) had a very good day on Wednesday, up 62 cents to 17.37, or 3.7%, on 5.1 million shares. This stock has gone from 13.00 all the way up to Wednesday’s high at 17.60, running up seven days in a row, with gaps every day. There’s some resistance. I would love to see a pullback. The moving averages are turning over, rolling over, crossing over, and the declining topsline has been taken out with a thrust. Any pullback here may be a buying opportunity, in my opinion. Target is 19 1/2-3/4, and maybe as high as 21 1/2-3/4.
Harry has posted Charts of the Day video on DY at TheTechTrader site noting: Dycom Industries Inc. (DY) is looking very good, up 3.80 to 77.79, or 5%, on nearly a million shares. This stock has very strong relative strength, probably 99. It’s holding as well as it can. The recent market pullback did give it a little dip to the 50-day moving average, but it went right back up to resistance. The target is 95 going forward. It would make a good swing trade if there’s follow-through on Thursday.
Harry has posted Charts of the Day video on COP at TheTechTrader site noting: ConocoPhillips (COP) is an excellent large-cap oil stock, with a very strong surge now seven days in a row. It was up another 13 cents to 55.77, on 13.7 million shares. At this point, it looks like it could pull back, settle in here, and consolidate, which I would love to see because this is set up for a swing trade. Targets are 60, and then 64.
Harry has posted Charts of the Day video on ECA at TheTechTrader site noting: Encana Corporation (ECA), an oil company that is doing well, was up another 57 cents to 8.15, or 7.5%, on 19 million shares. It has dropped from the 36 range to the 5 range. The recent pattern is of a V-bottom, followed by an extended right-handed V, almost like a higher W, up 6 days in a row, 6 days of good volume, and on Tuesday it got up over the prior high and closed at the gap. It would not be shocking to see this stock get to 8 3/4-9 as early as Wednesday. If it gets a breakout, look for that entry opportunity.
Harry has posted Charts of the Day video on COP at TheTechTrader site noting: ConocoPhillips (COP) ran another 2.16 to 55.14, or 4%, on 15.4 million shares on Tuesday. It is ready to move and looks intriguing. It spiked down, spiked up on heavier volume, and then there was a pullback on lower volume, with a breakout as the moving averages crossed over. The ideal scenario is, after running up through a couple layers of resistance, and after running up for six days in a row, it may see 7 or 8 days in a row and make it up to 60. But what I prefer is a pullback consolidation in that 55.14 zone, set up a flag, and then run to 60 at that point. If it does that, then it may very well get a swing trade from like 53-4 all the way up to 60-1.
Harry has posted Charts of the Day video on CHK at TheTechTrader site noting: Chesapeake Energy Corporation (CHK) is a good energy stock. It came way down from the mid-30’s, and as recently as 31 last year, and took it all the way down to 6.00. In ensuing weeks it formed a left shoulder-head-right shoulder, and on Tuesday, it jumped 56 cents to 8.98, or 6.65%, on 24 million shares. That’s the biggest volume on an up-day in about two weeks. If it can break through 8.98, expect it to test the 10 1/2 area. If it gets through that, look for it to test the 11 3/4 area, and eventually 14, depending on the oil market.
Harry has posted Charts of the Day video on CALA at TheTechTrader site noting: Calithera Biosciences, Inc. (CALA), which we put a swing trade out on Tuesday, was up 25 cents to 7.09, or 3.65%, on 687,000 shares traded. It has gone all the way from 30.00 down to 4.00 in multiple waves down, and looks like it formed a base. It’s above where the moving averages crossed over, above the prior high, and the next resistance level appears to be around 8.00. That can happen in the next day or so, as well as 8 3/4 at the declining topsline. It’s important that the short-term declining topsline is taken out. Volume is increasing. It’s not huge, but it has gotten higher four consecutive days. If it can hold the 6 3/4 range, then look for it to head up into those zones.
Harry has posted Charts of the Day video on OAS at TheTechTrader site noting: Oasis Petroleum Inc. (OAS) is one of the better-looking junior oil companies. It was up 1.00 to 11.73, or 9.3%, on 12.7 million shares. The base pattern may have been broken on Monday. If so, then it might have an extension follow-through. If that's the case, then the targets are 14, 16, and 17 1/2.
Harry has posted Charts of the Day video on EPAM at TheTechTrader site noting: EPAM Systems, Inc. (EPAM) had a nice pop on Monday, up 2.81 to 78.45, or 3.7%, on over 1 million shares traded. The long-term chart is impeccable. It did have a pullback like many of the other stocks did recently, only to tag the trendline twice, held it, moved up to test, and broke out on Monday. Going forward the target is 85.
Harry has posted Charts of the Day video on COP at TheTechTrader site noting: ConocoPhillips (COP) is one of the better and bigger oil companies, up 1.79 to 52.98, or 3.5%, on 12.8 million shares on Monday. It has gone from the high 80’s to the low 40’s. Over the last couple months it’s had a spike down, run-up, pullback, and a retest right next to the extended-V pattern. Five days in a row up, it takes out the moving averages and channel-bottom resistance. It looks like it may want to extend its run all the way up to 50-60. A pullback towards the prior high at 51 would be a good entry opportunity.
Harry has posted Charts of the Day video on SRPT at TheTechTrader site noting: Sarepta Therapeutics, Inc. (SRPT) had a really good day, up 7.17 to 39.28, or 22%, on 8.55 million shares. OBV was at the high for the year. At this point, it looks like it’s going to retest the highs at 41 1/2, and if it gets through that, look for it to run up to 47, which is the next target.
Harry has posted Charts of the Day video on RDUS at TheTechTrader site noting Radius Health, Inc. (RDUS) is acting extremely well, up another 5.26 to 74.57, or 8%, on 1.5 million shares. It has been phenomenal for the last two years. It pulled down in April-May, which resulted in one big move, then another consolidation pulled it back down in Aug, it popped, and just as the market was getting good, it rolled over and retested. This time it had a much higher retest. Resistance is at 75-75 1/4, and it closed just underneath that. If it punches up through there, it may test 80, followed by a test of 83 1/2. Those are the targets on this one.
Harry has posted Charts of the Day video on PACB at TheTechTrader site noting: Pacific Biosciences of California, Inc. (PACB) was the star of the day on Thursday, up 1.79 to 5.45, or 49%, on 2.2 million shares. We traded it early on, it kept stair-stepping its way higher, and intraday it had the perfect, parallel channel, until the end of the day when it broke support. The fundamental people are saying this is major for this company. It may be a turn-around for this stock. The major declining topsline was broken and it moved right up to resistance. If it gets through Thursday’s high at 5.91, it should test 6.60 pretty quickly, and it may even get up near the 7.30 range. That’s the near-term target for this stock.
Harry has posted Charts of the Day video on MBLY at TheTechTrader site noting: Mobileye N.V. (MBLY) is one of those interesting stocks, up 1.44 to 46.92, or 3%, on 5.4 million shares on Thursday. It went five waves down, the fifth wave made higher lows, a double bottom, and now resistance is in the 48-49 1/2 zone. That is where it looks like it’s going. Maybe as high as 50, with a secondary target of 53-4. It was up three days in a row but the technicals need to improve a little bit. Keep wan eye on this one.
Harry has posted Charts of the Day video on NVDA at TheTechTrader site noting:NVIDIA Corporation (NVDA) popped 94 cents to 24.65, or 4%, on nearly 14 million shares on Wednesday. The long-term channel goes back to 2012, taking this stock from the 11 range, all the way up to the 24 area. At this point, the top of the channel says 26 1/2 short-term, but it may see more than that.
Harry has posted Charts of the Day video on NHTC at TheTechTrader site noting: Natural Health Trends Corp. (NHTC) is acting very well considering the market. On Wednesday, it popped 2.88 to 32.68, or nearly 10%, on 249,000. This stock pretty much backed off resistance to hold the moving averages down. It looks like it’s broken out, pulled back, retested, and may be on its way back up again. 28 1/2 will get this one out above resistance, and then 35 1/2, and 39 are the targets for NHTC.
Harry has posted Charts of the Day video on INFY at TheTechTrader site noting: Infosys Limited (INFY), a Indian technology company, had a great day on Wednesday, up 1.04 to 19.09, or 5.76%, on 10.5 million shares. It is in a large wedge pattern. It popped out of the wedge on Tuesday, and then exploded on Wednesday. The targets for this stock are now 20, 21, and 24 going forward.
Harry has posted Charts of the Day video on RRGB at TheTechTrader site noting: Red Robin Gourmet Burgers Inc. (RRGB) may just be rolling over. It formed hammer, a wedge, and is breaking down. It was down 35 cents to 74.54 on Tuesday. First targets 70, second target 65.
Harry has posted Charts of the Day video on CEB at TheTechTrader site noting: CEB Inc. (CEB) was down another 57 cents to 67.95 on Tuesday. It’s four wave down and a fifth wave is under way. It should test the gap down around 63. Below that, if it fills the gap, the target is 59-60.
Harry has posted Charts of the Day video on SYMBOL at TheTechTrader site noting: Pandora Media, Inc. (P) is looking awfully good. It has five waves down, but then it formed an inverse head-and-shoulders, a right-handed, V breakout, consolidated, and then popped 58 cents to 20.00, or 2.8%, on 8 million shares on Tuesday. It’s in a lousy market, but doing pretty good for itself. Target is at 23 3/4, and if it gets through that, this stock may very well run to 29-29 1/2. This is one you need to pay attention to, relative strength is strong.